Motco Lowers Position in Lockheed Martin Co. (NYSE:LMT)

Motco cut its stake in Lockheed Martin Co. (NYSE:LMT) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,825 shares of the aerospace company’s stock after selling 124 shares during the period. Motco’s holdings in Lockheed Martin were worth $4,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. abrdn plc raised its position in Lockheed Martin by 14.8% during the third quarter. abrdn plc now owns 21,036 shares of the aerospace company’s stock worth $12,240,000 after acquiring an additional 2,707 shares during the last quarter. Financial Advocates Investment Management grew its holdings in shares of Lockheed Martin by 6.7% during the third quarter. Financial Advocates Investment Management now owns 2,943 shares of the aerospace company’s stock worth $1,720,000 after buying an additional 186 shares in the last quarter. Goldstone Financial Group LLC acquired a new position in shares of Lockheed Martin in the third quarter valued at approximately $1,017,000. Catalyst Financial Partners LLC lifted its stake in shares of Lockheed Martin by 9.8% during the third quarter. Catalyst Financial Partners LLC now owns 917 shares of the aerospace company’s stock valued at $536,000 after buying an additional 82 shares during the period. Finally, United Asset Strategies Inc. boosted its position in Lockheed Martin by 1.2% during the third quarter. United Asset Strategies Inc. now owns 30,833 shares of the aerospace company’s stock worth $18,023,000 after acquiring an additional 379 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $446.38 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock’s fifty day simple moving average is $466.57 and its 200-day simple moving average is $526.08. The company has a market capitalization of $105.07 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.07 and a beta of 0.48. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, sell-side analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LMT shares. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company lowered their target price on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a research note on Wednesday. Morgan Stanley cut their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Susquehanna decreased their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $553.67.

About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.